This year, Americans are moving for a variety of reasons. The health crisis has truly reshaped our lifestyles and our needs. Spending so much more time in our current homes has driven many people to reconsider what homeownership means and what they find most valuable in their living spaces.
According to the 2020 Annual National Movers Study :
“For customers who cited COVID-19 as an influence on their move in 2020, the top reasons associated with COVID-19 were concerns for personal and family health and wellbeing (60%); desires to be closer to family (59%); 57% moved due to changes in employment status or work arrangement (including the ability to work remotely); and 53% desired a lifestyle change or improvement of quality of life.”
With a new perspective on homeownership, here are some of the reasons people are reconsidering where they live and making moves right now.
1. Working from Home
With the current health crisis, many companies opted to remote work which became the new norm. As a result, many employee and workforce discovered that there’s no need for them to be close to their office and save more money for themselves if they move further outside of the city limits. Apartment list quoted:
“The COVID pandemic has sparked a rebound in residential migration: survey data suggest that 16 percent of American workers moved between April 2020 and April 2021, up from 14 percent in 2019 and the first increase in migration in over a decade.”
In case you’re needing a bigger room for your new home office, it might be time to look for a larger home. Because in reality, your current house is not that optimized for your work from home setup.
2. Space For Fitness Activities
Staying fit and healthy is a priority for many Americans and with the current situation, more and more people are looking for a house that can accommodate their fitness needs. A recent survey from 122 countries noted the fastest growing fitness trends amongst adults:
- At-home fitness equipment (up 50%)
- Personal trainers/nutritionists (up 48%)
- Online fitness courses, classes, and subscriptions (up 17%)
Having a room dedicated to staying fit and healthy might be one of the reason why you may want to look for a new home.
3. Outdoor Space
Whether you’re cooking, exercising, or just want to have a place to chill and hang out. Many people considers outdoor space as a factor in moving. Better Homes & Gardens released the top outdoor living trends for this year:
- Outdoor Kitchens: 60% of homeowners are looking to add outdoor kitchens.
- Edible Garden: Millions of people began gardening during the pandemic . . . to supplement pantries with homegrown fruits, vegetables, and herbs.
- Secluded Spaces: As outdoor activity increases, so does the need for privacy.
If you’re looking to get the best value out of your money and you had plans to move, now might be the best time to do so and take advantage of the low mortgage rates.